A home is probably the biggest financial investment you’ll make in your life. Before you get started, do some homework. We encourage you to do your "due diligence".

The Corazon del Cielo development has title insurance through Lawyers' Title and HSBC owned by Fidelity who have conducted a full title search. Once your LOT has been subdivided and registered you may opt to buy title insurance yourself as is customary in the USA.

Process

Once you choose your LOT or home , we will ask for a deposit of 10% of the full purchase price with the balance in 30-45 days, a contract will be drawn up and signed. Once the LOT has been segregated and placed in your name, your money, which can be held by the bank or escrow company, will then be released to the seller. You will own your home "Fee Simple" or "Freehold" as in the USA.

Don’t forget the day-to-day expenses you may incurr once you own that home.

Is it close enough to everyday needs, such as grocery stores, schools, work?

Will you feel safe here?

Is the yard right for your needs?

Do you like the floor plan?

Is there enough storage?

Will you be happy in this house in the rainy season (October)?

Is there a ground floor bathroom and bedroom?

Are utilities payable to the Electric company or the development (Unlike some developments who charge for electricity usage, at Corazon del Cielo you pay your bill directly to the Electric company.)

You may also want to take some exterior and interior photos of each house you visit so that you can keep track of its pros and cons.

Completed homes can be purchased and the competitvely priced lot will be charged at approximately $30sqm. If you decide to build your own home, a simple design review will ensure that all the homes on the site are attractive and of quality construction. Once approved by the development, you would take your design to the Muncipaltiy for Official Approval.

CC&Rs set some simple rules, covents and restrictions to ensure that everyone lives happily in the development. Homeowners' Association dues are set to maintain common areas and utility connections.

Corazon Del Cielo is Bank Approved

Local Banks have already pre-approved the development for home loans. Please check to see if you qualify to for a low cost loan offered by the Panamanian government, these loans start at 3% fixed for the first $62,500 borrowed, and the remainder would be at the prevailing interest rate for residents or non-residents.

If you have Panamanian Residency the interest rate offered to you is 1-2% lower than normal. Seniors with $500 per month income for one, or $600 per month for a couple, may qualify for residency, also there are various investor programs. Contact the Panamanian Consulate or Immigration Attorney for information about Residency Programs, there is usually a program that works for just about everyone.